Jefferies Group Analysts Lower Earnings Estimates for Franks International NV (FI)
Franks International NV (NYSE:FI) – Equities researchers at Jefferies Group dropped their Q1 2018 EPS estimates for shares of Franks International in a note issued to investors on Tuesday. Jefferies Group analyst B. Handler now forecasts that the pipeline company will earn ($0.12) per share for the quarter, down from their prior forecast of ($0.11). Jefferies Group currently has a “Hold” rating and a $7.00 target price on the stock. Jefferies Group also issued estimates for Franks International’s Q2 2018 earnings at ($0.11) EPS, Q3 2018 earnings at ($0.09) EPS, Q4 2018 earnings at ($0.08) EPS, FY2018 earnings at ($0.40) EPS and FY2019 earnings at ($0.15) EPS.
FI has been the topic of a number of other research reports. Scotiabank restated a “hold” rating and set a $12.00 price target on shares of Franks International in a research note on Friday, November 3rd. Royal Bank of Canada set a $7.00 price target on Franks International and gave the stock a “buy” rating in a research note on Thursday, December 21st. ValuEngine lowered Franks International from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Piper Jaffray Companies restated a “hold” rating and set a $5.50 price target on shares of Franks International in a research note on Friday, November 10th. Finally, Credit Suisse Group lowered Franks International from a “neutral” rating to an “underperform” rating in a research note on Tuesday, November 7th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $7.61.
Franks International (NYSE:FI) last issued its quarterly earnings results on Tuesday, February 27th. The pipeline company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.15). Franks International had a negative return on equity of 10.94% and a negative net margin of 35.06%. The business had revenue of $118.32 million for the quarter, compared to analysts’ expectations of $115.92 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. Franks International’s revenue was up 9.6% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its position in Franks International by 6.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 265,543 shares of the pipeline company’s stock worth $2,050,000 after purchasing an additional 15,234 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Franks International in the 3rd quarter worth approximately $1,293,000. Parametric Portfolio Associates LLC boosted its position in Franks International by 231.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 286,862 shares of the pipeline company’s stock worth $2,378,000 after purchasing an additional 200,217 shares in the last quarter. Citadel Advisors LLC boosted its position in Franks International by 2.8% in the 3rd quarter. Citadel Advisors LLC now owns 1,295,782 shares of the pipeline company’s stock worth $10,003,000 after purchasing an additional 35,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Franks International by 17.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 904,606 shares of the pipeline company’s stock worth $7,499,000 after purchasing an additional 131,930 shares in the last quarter. Hedge funds and other institutional investors own 33.18% of the company’s stock.
In related news, major shareholder Melanie Christine Mosing sold 300,610 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $6.51, for a total value of $1,956,971.10. Following the sale, the insider now owns 10,591,325 shares in the company, valued at $68,949,525.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder William Bradford Mosing sold 427,972 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $6.54, for a total value of $2,798,936.88. Following the completion of the sale, the insider now owns 400,902 shares in the company, valued at approximately $2,621,899.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,425,667 shares of company stock worth $14,480,201. 77.90% of the stock is owned by insiders.
Franks International Company Profile
Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.
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